Fulton Financial Corporation (NASDAQ:FULT) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT – Get Free Report) have earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.75.

Several brokerages have recently weighed in on FULT. Wall Street Zen upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Fulton Financial in a report on Wednesday, July 29th. DA Davidson boosted their price target on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial downgraded Fulton Financial from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $27.00 price objective (up from $23.00) on shares of Fulton Financial in a research report on Monday, August 3rd.

Get Our Latest Research Report on FULT

Insider Activity at Fulton Financial

In other news, Director Lisa Crutchfield sold 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the sale, the director owned 7,838 shares in the company, valued at $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fulton Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FULT. Keybank National Association OH increased its holdings in Fulton Financial by 1.5% in the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock valued at $669,000 after purchasing an additional 485 shares in the last quarter. Cetera Investment Advisers raised its position in Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock valued at $444,000 after purchasing an additional 557 shares during the period. State of Wyoming lifted its stake in shares of Fulton Financial by 13.4% during the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock worth $98,000 after purchasing an additional 570 shares in the last quarter. iSAM Funds UK Ltd lifted its stake in shares of Fulton Financial by 1.8% during the second quarter. iSAM Funds UK Ltd now owns 33,600 shares of the bank’s stock worth $813,000 after purchasing an additional 593 shares in the last quarter. Finally, Root Financial Partners LLC lifted its stake in shares of Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after purchasing an additional 607 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Down 1.0%

FULT stock opened at $22.17 on Tuesday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 10.61 and a beta of 0.79. The company has a fifty day moving average price of $23.27 and a 200 day moving average price of $22.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92. Fulton Financial has a 12 month low of $16.91 and a 12 month high of $25.23.

Fulton Financial (NASDAQ:FULT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.07. The company had revenue of $367.87 million for the quarter, compared to the consensus estimate of $358.83 million. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. Fulton Financial’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Sell-side analysts expect that Fulton Financial will post 2.22 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.4%. Fulton Financial’s payout ratio is presently 36.36%.

Fulton Financial Company Profile

(Get Free Report)

Fulton Financial Corporation is a regional bank holding company headquartered in Lancaster, Pennsylvania. Through its principal subsidiary, Fulton Bank, N.A., the company provides banking and financial services to individuals, businesses, and institutions.

Fulton Bank offers deposit accounts, consumer and commercial lending, residential mortgages, and cash-management and treasury services. Its other offerings include wealth management, trust and investment services, financial planning, and insurance solutions.

Founded in 1882, Fulton Financial serves customers through banking offices and digital channels in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia.

Further Reading

Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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